Connect with us

Headlines

Lab-Grown Diamonds a Possibility for Signet, CEO Says

The company is ‘very closely monitoring’ demand for such products.

mm

Published

on

Selling lab-grown diamonds is a definite possibility for Signet Jewelers in the future, according to comments made by the company’s chief executive.

As Rapaport News reported, Signet CEO Gina Drosos answered a question on the topic during a call with analysts recently, saying the firm is “very closely monitoring and assessing the demand for this emerging category.”

“What our research shows is that customers prefer natural diamonds for those really important purchases, bridal purchase, special birthday, graduations those kinds of things, but there could be some growing interest in the fashion jewelry space for synthetic diamonds,” she said. “So we’ll make sure that Signet is well positioned to participate in that space if the growth and the economics of it are attractive and if customers point us in that direction.”

Signet is the parent of Sterling Jewelers, which operates Jared the Galleria of Jewelry, Kay Jewelers and Zales.

Lab-grown diamonds have been a hot topic lately, with De Beers Group announcing in May that it would launch a company called Lightbox Jewelry to begin marketing such jewelry. Lightbox lab-grown diamonds are set to become available this month, retailng from $200 for a quarter-carat stone to $800 for a one-carat stone.

Advertisement

There’s been “growing speculation that Signet might be lining up to carry the collection,” according to Rapaport.

Read more at Rapaport News

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

Promoted Headlines

Most Popular